Suite #303 - 1039 Richards Street, Vancouver, BC. V6B 3E4
Tel: (604) 682-1141 Fax: (604) 682-1144 Website: www.dentonia.net Email: email@example.com
December 14, 2005 For Immediate Release
TSX Venture: “DTA”
NON BROKERED PRIVATE PLACEMENT CLOSED
2006 BUDGET FOR ADVANCED EXPLORATION AT THE DO27, LAC DE GRAS, NWT
DETAILS OF ATKINSON GOLD PROSPECT, ABITIBI GREENSTONE BELT, ONT.
IS GOLD GOING TO $1,000 (US)?
APPOINTMENT OF NEW CFO
NON BROKERED PRIVATE PLACEMENT CLOSED
Dentonia Resources Ltd. (“Dentonia”) realized in total $2,643,275, ($1,651,275 non-flow-through and
$992,000 flow-through funds), through its private placement, first announced on November 16, as
amended on November 22 and 29, 2005.
Dentonia, subject to obtaining regulatory approval, will issue 11,008,501 non-flow-through units at $0.15
per unit and 4,960,000 flow-through units at $0.20 per unit, consisting, in each case, of 1 common share
with 1 non-transferable warrant attached, exercisable over 2 years, at $0.25 during the first year and $0.35
during the second year. Shares issued and shares acquired through the exercise of warrants will have a
hold period of 4 months plus 1 day from the date of distribution of the units.
2006 Budget for Advanced Exploration at the DO27, Lac de Gras, NWT
Funds on hand of approximately $680,000 together with the non-flow-through funds of $1,651,275, in
total $2,331,275 will be used for general corporate purposes and for Dentonia’s contribution to the
planned 2006, DO27 kimberlite bulk sample of approximately 3,000 tonnes (3,000 carats), at an estimated
total cost of $14,000,000, of which DHK Diamonds Inc. will contribute 20% or $2,800,000 to maintain
its 20% interest in the DO27, DO18 kimberlites, and surrounding leases and claims at Lac de Gras, NWT.
These properties adjoin the Diavik Diamond Mine to the south.
Dentonia has a 1/3 equity interest in DHK Diamonds Inc., and its pro rata contribution will be $950,000.
Shareholders of DHK, each have rights of first refusal for 60 days in the event any one of shareholders of
DHK Diamonds Inc. intends to dispose of its interest.
A 43-101 Report, prepared by Howard G. Coopersmith, P. Geo. covering the DO27 has been filed on
SEDAR by Dunsmuir Ventures Ltd. This report contains the following 2006 proposed budget:
Advanced Exploration Phase Estimated Budget for Work at DO-27 to take place in the 2nd Half of 2006
Budget, 1st Half of 2006
Item Cost Item Cost (H2 2006)
Site Support 1,245,000 Site Support 60,000
Camp Support 510,000 Camp Support 150,000
Drilling (LDH &DDH) 8,343,000 Geological and Geotechnical Drilling 750,000
Sampling Processing 1,610,000 Sampling Processing 150,000
Professional Services 420,000 Professional Services (Environmental Studies, etc) 500,000
Air Transport 435,000 Air Transport 300,000
Consumables 197,000 Consumables 75,000
Fuel 617,000 Fuel 150,000
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Trucking/Shipping 213,000 Trucking/Shipping 25,000
Accommodation & Travel 60,000 Accommodation & Travel 20,000
Staff 350,000 Staff 150,000
Total 14,000,000 2,330,000
Highlights of Howard G. Coopersmith’s 43-101 Report
The WO Property containing the diamondiferous DO-27 kimberlite deposit and a number of other
kimberlites is located approximately 300 kilometres north-northeast of the City of Yellowknife in the
Northwest Territories, Canada. It comprises 14 mineral claims and 3 mineral leases. The property
ownership currently is:
Peregrine Diamonds Ltd. – 54.475%
DHK Diamonds Inc. – 20%
Archon Minerals Limited – 13.275%
Aber Diamond Corporation – 7.35%
SouthernEra Resources Limited – 4.9%
Aber and Kennecott Canada Inc. hold a 0.3% and 1% GOR, respectively.
Peregrine Diamonds Ltd. is the project operator and all partners will contribute to future programs or their
interests will be diluted.
The 2005 mini bulk sample of the Southern Lobe of the DO27 was split into two parcels:
PDL-1, RC hole 1, 2, 4, 5 & 6 and
PDL-2, RC hole 3
Diamonds recovered from PDL-1 consisted of 103.14 carats, valued between US$58.54 and US$77.77 a
carat, diamonds recovered from PDL-2 consisted of 29.11 carats, valued between US$32.24 and
US$33.67 a carat.
The carats from the 1994 bulk sample, taken primarily from the North Eastern Lobe or Subsidiary Vent
were revalued in 2005. Values between US$41.62 to US$54.34 per carat were obtained, a marked
increase from the 1994 valuation of US$21.70 a carat. Please refer to Dentonia’s Annual Report, 2005
for further details.
Details of Atkinson Gold Prospect, Abitibi Greenstone Belt, Ontario
Beginning January/February 2006 Dentonia with flow-through-funds of $992,000 realized, will
commence a $400,000 exploration program to test as many as 17 geophysical targets at the Atkinson
Gold Prospect, located 15km south of the Detour Lake Mine, Porcupine Mining Division, Ontario.
The Atkinson Gold Prospect consists of 4 claim groups, the Lipton, Nash, Horner and Atkinson West.
Initially exploration will concentrate on the Lipton group, which consists of 13 contiguous mining claims.
Paul R. Nicholls, P. Eng., Ontario, has recommended a minimum of 11 NQ drill holes in the area
surrounding and north-east of drill hole 96-3. This hole intersected 9.0m of 10.7g/tonne gold in 1996.
This mineralized formation is open down-dip and along strike.
This zone was defined by earlier geophysical surveys and by a number of drill holes grading greater than
2.5g/tonne of gold and further defined by Dentonia’s magnetic survey in the spring of 2005.
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The results of these surveys were summarized by Gerard Lambert, P. Eng. in his report to Dentonia as
“The additional ground magnetometer surveys which were recently completed for
Dentonia Resources Ltd. (May, 2005) on the Lipton Lake, grid part of the Atkinson
Project, have successfully mapped a rather deep-seated magnetic feature between L-
1400N and L-1600N at about 380W. It appears to be the extension to the north of any
existing unit mapped earlier in 1997. It interpreted depth to top would be about 60
meters below surface. The magnetic relief in the western extensions of L-300N to L-
900N is active, the probable result of nearby bedrock and a heterogeneous magnetism
within that bedrock.
Toward the south, the strongly magnetic unit mapped at about 200W down to line 500S
in 1997 was confirmed to extend by at least 600m toward the south. This strongly
magnetic horizon probably contains between one or four individual layers of variable
thickness, possibly an ultramafic sill or an iron formation.”
Note, that the distances between 2 grid lines, “L”, is 100m, north-south, and 200m east-west; the area
surveyed in 1997 and 2005 has an approximate dimension of 2,400m by 2,800m, and defined a horseshoe
shaped geophysical conductor, extending between 2,000m to 3,000m. No further exploration was carried
out after 1997 until Dentonia began its magnetometer survey in April/May 2005.
Gold Price – Is Gold going to $1,000 (US)?
The hiatus in exploration may have been due, primarily, to declining gold prices from US$420/ounce in
1995 to its recent nadir of US$240/ounce in 1999.
Gold prices reversed this trend in 2001 to current prices, approaching US$530/ounce (February Contract,
Comex) with prediction of US$1,000/ounce, and gold bearing deposits, depending on dimension, grading
of 3g/t or better have become ore.
To quote, Financial Post, December 8, 2005:
“Flight to security lifts gold for sixth day
Gold futures for February delivery rose US$4.90, or 1%, to US$522.70 an ounce on the
Comex division of the New York Mercantile Exchange, the highest close for a most-
active contract since April, 1981. The metal has climbed US$24 this month and has
gained 19% this year.
“It’s really a move away from paper assets into tangible assets,” said Sean Boyd, chief
executive of Toronto-based Agnico-Eagle Mines Ltd., owner of Canada’s biggest gold
mine. Gold may reach US$1,000, he said.”
To quote, The Globe and Mail, December 13, 2005:
“To be in line with soaring oil and copper prices, for example, gold would have to fetch
about $800 an ounce, he said. Then, gold miners would make money, at least those with
reserves. ‘It’s a different matter if you’re starting from scratch.’
A report released last week by M. Murenbeeld & Associates Inc. noted that gold prices
have broken through every major trend line of the past 20 years. If supply stays sluggish,
current price increases may reflect a new norm rather than a short-term fluctuation.”
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Recent Exploration at Atkinson
Between October 26, and November 13, 2005 the Company completed a helicopter supported
reconnaissance drill program at the Horner and Atkinson West claim groups, located, respectively, 4km
east and 2.5km south-east of the Lipton claim group.
Two holes were drilled at the Horner and one hole at the Atkinson West, to a depth of 137m, 159m,
155m, respectively, in total 594m.
These holes intersected quartz veins, green mica (fuchsite), pyrite, and pyrrhotite over wide sections. One
hundred and one (101) split core samples were collected and assayed for gold. Results of the gold
analyses were low with slightly elevated to anomalous concentrations of gold (100 to 309 ppb) detected in
two of the three holes.
Atkinson Area Play
The Atkinson Gold Prospect is located within the Abitibi Greenstone Belt. Gold deposits generally occur
as massive sulphide accumulations or consist of disseminated stock-work-like vein systems; auriferous
ore usually consists of pyrite, pyrrhotite-chalcopyrite, quartz veins and associated stringer mineralization,
e.g. Agnico Eagle, which is the largest gold deposit in Canada.
To underline the potential of the Atkinson Gold Prospect quotes from a paper delivered by Pierre Doucet,
James Moorhead and Suzanne Cote, “Southern Part of Superior Province (Abitibi and Pontiac
Subprovince) will illustrate:
“The Abitibi Subprovince is world-renowned for the great number and high grade of its
precious metal (Au-Ag) and polymetallic (Cu-Zn-Au-Ag and Cu-Au) ore deposits.”
“Exploration and mining have made this territory one of the main mining regions in
Quebec for close to a century.”
Also note the recent $444.8 million, an all stock transaction, between Virginia Gold and Gold Corp. for
the acquisition of the Eleonore gold deposit, located in the Abitibi Greenstone Belt of Quebec.
To quote, “The Globe and Mail”, December 6, 2005:
“The Eleonore mining project has attracted a lot of attention since Virginia Gold Mines
Inc. discovered gold there in 2004. Goldcorp Inc. yesterday agreed to pay $420 million
U.S. to acquire the project, described by one Goldcorp executive as the best discovery
since the famed Hemlo find of 1981.”
The area of the Abitibi Greenstone Belt near the Atkinson Project is now actively being explored. In
2004, Noranda Inc. (now Falconbridge Limited) staked 5 claims blocks adjacent to and east of Atkinson
Lake Project and has commenced an exploration program.
Aurizon Mines Ltd’s Casa Berardi Mine is expected to be in production by late 2006. The mine will have
an initial 5-1/2 year mine life during which it will produce 150,000 ounces of gold per year at a cash cost
of $233 per ounce. Current reserves are 4.4 million tonnes of gold at a grade of 6.2 grams of gold per
tonne (868,000 ounces of gold). There are additional resources of 1.6 million tonnes at 9.95 grams of
gold per tonne. Aurizon spent $7.5 million in exploration of the Casa Berardi in 2005 alone.
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Production at BHP Billiton Ltd.’s Selbaie mine finished in February 2004, with final reserves of
6,820,000 tons at 1.22% zinc, 0.64 ounces of silver per ton, 0.3% copper and 0.007 ounces of gold per
Other junior mining companies are also active in the area. Pelangio Mines Inc., which controls 94 square
miles of the Abitibi Greenstone Belt, with its joint venture partner Trade Winds Ventures Inc., is
exploring their Detour Lake Mine and surrounding mineral claims. Assays from a recent 5 hole drill
program at Block “A” returned good intersections including 41.34 grams of gold per tonne over 5 metres
(including 367 grams of gold per tonne over 0.5 metres) and 3.57 grams of gold per tonne over 12 metres
(including 61.6 grams of gold per tonne over 0.5 metres).
The Detour Lake Gold Mine (Placer Dome Inc.), located north of Atkinson Gold Prospect, 15km,
operated between 1983 and 1999 and produced 1.7 million ounces of gold at an average grade of 4.17
grams of gold per tonne. At the time of the mine’s closure in 1999, Placer Dome Inc. had calculated a
remaining resource of 1.7 million ounces of gold in six zones with a total of 521,965 ounces of gold in the
measured or indicated category.
THOMLINSON CREEK MOLYBDENUM PROSPECT, NEAR HAZELTON, CENTRAL B.C.
Dentonia’s funds may also be expended on the Thomlinson Creek Molybdenum prospect, near Hazelton,
central B.C. Permits from the Ministries of Mines and Forestry were obtained, a $15,500 bond was
posted, all preparatory to a recommended 5 hole drill program, in late spring/summer 2006, to test a large
molybdenum soil anomaly, located west of a 1981 drill hole, which intersected, at its bottom, a 6m wide
section, assaying 0.17% copper and 0.236% molybdenum with a gross value, at today’s prices,
The economics of this potential deposit have dramatically increased over the last few years with the
increase of copper prices to US$2.00 per pound and molybdenum from a low of US$2-5 per pound in
2002/03 to current prices in excess of US$30 per pound.
APPOINTMENT OF NEW CFO
The Company also announces the appointment of Blaine Bailey, Certified General Accountant, as CFO.
Mr. Bailey has considerable experience with TSX Venture Exchange companies and his experience will
be required as the Company goes through its next phase of development.
DENTONIA RESOURCES LTD.
“Adolf A. Petancic”
Adolf A. Petancic, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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